NEWS that Axiata Group Bhd and its unit in Nepal were being slapped with a whopping tax bill of 61 billion Nepalese rupees (RM2.16bil) sent the former’s share price heading south.
The fall began Thursday afternoon soon after the Supreme Court of Nepal (SCN) ordered both Axiata and Ncell Pte Ltd to pay the taxes, including late fees and fines over the latter’s purchase by the former. The shares lost 34 sen in two days and closed yesterday at RM3.73, down nearly 5%.
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